Internet, NBCUniversal drive Comcast earnings increase (copy)

Wednesday

An increase in Internet customers and the strong performance of NBCUniversal helped boost Comcast Corp.'s second-quarter earnings, the company said Wednesday.

Revenue for the quarter was up 7 percent, to $16.2 billion. Earnings increased 30 percent, to 65 cents a share.

"The entire company is executing really well in our many different businesses," Comcast CEO Brian Roberts said in a conference call. "With such a strong quarter and a great first half of the year, it makes us optimistic about our fantastic combination of businesses that have so many opportunities ahead."

Revenue from Comcast's cable division was $10.5 billion, up nearly 6 percent from the same period a year ago. Business services were the fastest-growing segment, with revenues up nearly 27 percent, to $788 million.

High-speed Internet revenues grew 8 percent, to nearly $2.6 billion, as the company added more than 187,000 Internet customers during the quarter. Voice customers increased by 161,000. Video customers fell by 159,000, a smaller decline than reported last year.

The company added 189,000 triple-play customers who receive Internet, phone and cable service.

NBCUniversal reported revenues just shy of $6 billion, up nearly 9 percent from the same period last year. Comcast owned only 51 percent of the media company until March, when it bought the rest from GE for $16.7 billion.

Revenues were helped by the blockbuster movie "Fast & Furious 6" and the success of NBC's singing competition "The Voice."

"This is our first full quarter of ownership of all of NBCUniversal, and given the strong performance and market conditions we had at the time we made our decision, I feel really great about the timing and structure of the purchase of the 49 percent interest," Roberts said.